Prospective Purchaser Agreements
Congress initially intended the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA or Superfund)1 to provide a statutory framework for addressing what Congress believed to be a manageable number of sites presenting significant risks to human health and the environment.2 CERCLA's liability scheme, however, has had an unanticipated chilling effect on the willingness of parties to purchase or otherwise use contaminated sites throughout the country.3